This program is designed for businesses like yours, offering a unique opportunity to foster growth and innovation. You can receive up to 50% of your project costs covered, with no interest on the repayable funding. This means you can invest in new technologies, enhance your production processes, or expand your market reach without the burden of high-interest rates.

Key benefits include:

• Interest-free repayable funding starting two years after project completion.
• Support for various sectors such as manufacturing, food processing, and life sciences.
• Flexibility in eligible activities, from acquiring new equipment to hiring marketing staff.

By participating, you can significantly boost your productivity and competitiveness. The application process is straightforward, and your business is already a perfect fit. This program provides a solid financial foundation to help you achieve your business goals.

Type of Financing:

• For SMEs: Repayable financial assistance of up to 50% of authorized costs.
• For NPOs: Non-repayable financial assistance of up to 90% of authorized costs (up to 50% for capital projects).

Repayment Terms:

• SMEs: Repayment without interest starting two years after the project ends.
• NPOs: Non-repayable assistance for eligible costs.

Eligible Expenses:

• All project-related costs essential for implementation, deemed reasonable by CED.

Ineligible Expenses:

• Non-essential costs not directly related to the project.
• Restrictions on refinancing existing debt, purchasing assets above fair market value, amortization expenses, goodwill costs, and land purchases.

Fees:

• No interest for SMEs.
• NPOs receive non-repayable financial assistance.
• Contact CED for further details on fees.

This program offers financial assistance to help your business grow and innovate. You can receive up to 50% of your project costs covered if you are an SME, and up to 90% for NPOs. This funding is designed to support various activities, such as acquiring new equipment, adopting new technologies, and improving productivity.

You can use the money for a wide range of projects, including:

• Buying digital production equipment or machinery
• Adopting new technologies or production processes
• Boosting productivity and innovation capacity
• Commercialization and market development efforts
• Hiring marketing staff and participating in trade fairs
• Setting up high-performing management teams

For SMEs, the financial assistance is repayable without interest, and you start repayment two years after your project ends. For NPOs, the assistance is generally non-repayable. This program is a great opportunity to enhance your business operations and stay competitive in your industry.

1. Prepare Business Documentation: Gather the necessary documents to support your application. These include:

• Financial statements
• Business plan
• Details of the project (e.g., quotes for equipment, market studies)
• Proof of eligibility (e.g., proof of business type and sector)

2. Review Program Guidelines: Familiarize yourself with the program's guidelines and requirements. Ensure your project aligns with the objectives of fostering innovation, productivity, and growth.

3. Contact CED: Reach out to Canada Economic Development (CED) for guidance on your project. You can discuss your project details and confirm its eligibility.

4. Complete the Application Form: Fill out the application form provided by CED. Ensure all sections are completed accurately and thoroughly.

5. Submit the Application: Submit your completed application form along with the required documentation to CED. Follow the submission guidelines provided in the Project Submission Guide.

6. Await Review and Feedback: CED will review your application against specific criteria, such as expected results, business viability, and management capacity. Be prepared to provide additional information if requested.

7. Finalize Agreement: If your application is approved, discuss and finalize the terms of the funding agreement, including the repayment schedule if applicable.

8. Implement the Project: Once the agreement is in place, proceed with implementing your project as outlined in your application. Ensure you adhere to the agreed-upon terms and conditions.

9. Report Progress: Regularly report on the progress of your project to CED. This may include financial reports, project milestones, and any other required updates.

10. Complete Repayment (if applicable): If you received repayable funding, begin repayment according to the agreed schedule, starting two years after the end of the project.